Apr 10, 2014

  Short Sale Dumfries VA – APPROVED by Wells Fargo! Our seller bought this condo back in 2005 during the height of the market for $330,000. We started the listing price in Nov 2013 at $225,000…eventually the market dictated we drop the price to $199,999. We got an offer in and started the short sale approval process with the lender – Wells Fargo. Wells held both trusts on this one and we now have an approval from both trusts. The 1st trust approved the sale on 3/25 and then days later, we had approval from the 2nd. Here are the letters for your research purposes:
Short Sale Dumfries VA – Wells Fargo 1st Trust Approval
Short Sale Dumfries VA – Wells Fargo 2nd Trust Approval
Do you know someone who needs our help with a short sale or just has questions about the process? Tell them to call me on my cell at 703-400-6757 or email me at jennifer@jyhteam.com. I would love to talk with them.

What is a Short Sale ?

A Short Sale is the sale of a home when sales proceeds do not fully pay off the existing loan(s) and lender(s) accepts a discounted payoff to fully satisfy the loan. A typical situation would be a homeowner suffering a hardship and their home’s market value is less than what is owed to the bank. In the majority of these situations managed by the Jennifer Young Homes team, the existing lender pays virtually all sales costs, including commissions, escrow and title fees. The homeowner gets their home sold, the loan(s) paid off and foreclosure is avoided.

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